17:30 (CLOSE): Concerns about the health of the world's biggest economy weighed on global stock markets, holding back a subdued FTSE 100 Index.

After making tentative headway in early trade, the UK's top tier ended narrowly lower, knocked back by a glut of gloomy data from the United States which showed unhealthy consumer sentiment and a weaker-than-expected manufacturing sector.

That drove the FTSE 100 down 0.5 points to 6243.7 - marking the fifth day of retreat for the top tier.Ken Goldstein, economist at The Conference Board, said the March figures reflect a US economy that has lost some steam.

High street woe: Retail figures for March showed a 0.7 per cent fall in sales as the inclement weather took its toll.

The Dax in Frankfurt was driven lower, the Cac 40 in Paris managed only marginal gains, and on Wall Street the Dow Jones Industrial Average also fell.

Stock markets have been under pressure in recent days on concerns about slowing Chinese growth, the struggling eurozone economy and mixed results from US companies at the start of the first quarter earnings season.

An expected fall in UK retail sales in March, down 0.7 per cent on a month earlier largely due to heavy snowfall, did little to convince about the strength of the underlying economy.

On the currency markets, the pound was up 0.3 per cent on the dollar to 1.53 and flat against the euro at 1.17.

Retailer Debenhams also highlighted the impact of the snow-hit start to the year today as its profits dropped 5.4 per cent to £120.3million for the six months to March 2, in line with last month's warning about sales.

However, investors were encouraged by comments from chief executive Michael Sharp, who backed the group's spring and summer ranges and reported market-beating online sales, which surged by 46 per cent in the first half.

With Investec Securities placing a buy rating on the stock in the wake of the results, shares lifted 5 per cent or 4p to 84.5p in the FTSE 250 Index.

Pharmaceuticals group GlaxoSmithKline was among the biggest top flight risers, up 3.2 per cent or 51p to 1658p, after US regulators gave their backing to Breo, its experimental lung disease treatment.

Engineering group GKN, which makes driveshafts for almost half of all new cars, was close behind after chief executive Nigel Stein said he expected an improvement in results now that restructuring charges are out the way.

First quarter figures showed sales rose 9 per cent to £1.89billion, while profits were 1 per cent lower at £139million as a result of a £23million one-off charge. Shares responded with a rise of 6.3p to 252p.

Meanwhile, shares in housebuilder Persimmon were 3p higher at 1109p after it reported a pick up in visitor levels to its developments.

That buoyed peers including Taylor Wimpey, 1.1p ahead to 89.7p, Barratt Developments, 8p up to 291.1p and Berkeley Group, 38p higher to 2033p.

The biggest risers on the FTSE 100 were Tullow Oil, up 41.5p to 1024p, GlaxoSmithKline 51p ahead to 1658p, GKN 6.3p higher at 252p and Shire, up 41p to 1964p.

The biggest fallers on the FTSE 100 were Eurasian Natural Resources, 10.4p lower to 229.8p, Royal Bank of Scotland, 9.3p off at 273.9p, Resolution 7p lower at 247.1p and Easyjet, 30p weaker at 1110p.

16:00: Further cracks in the American economy weighed on Wall Street after today's opening bell, also eroding gains on the FTSE 100 Index.

After making tentative headway in early trade, the UK's top tier was trading flat, knocked back by a glut of data from the US which showed gloomy consumer sentiment and a weaker-than-expected manufacturing sector.

Strong earnings from Pepsi, Verizon and other big companies were not enough to prevent the Dow Jones Industrial Average dropping 42 points to 14576.

Debenhams was in the spotlight after it said profits dropped to £120.3 million for the six months to March 2, in line with last month's warning about sales following a snow-hit start to the year

Ken Goldstein, economist at The Conference Board, said the March figures reflect a US economy that has lost some steam.

The FTSE 100 was just 1 point ahead at 6243.8 points. The Dax in Frankfurt and the Cac 40 were both driven into the red.

Stock
markets have been under pressure this week on concerns about slowing
Chinese growth and mixed results from US companies at the start of the
first quarter earnings season.

15:15

The FTSE has dropped 9.01 points or 0.14 per cent to 6,235.5. The head of Barclays' investment banking division Rich Ricci is set to retire, Barclays announced today.

He is leaving the bank at the end of June after 19 years at the bank and will be replaced by
co-heads Eric Bommensath and Tom King, who take on the roles next
month.

Mr Ricci will receive a year's salary
after leaving, unless he gets a new job in the meantime, but Barclays
declined to reveal his basic pay and his pension entitlements. Read more here.

12:50

The FTSE continues to edge up, now at
6,265.5 up 0.34 per cent or 20.61 points. Retail sales fell further
than expected last month after the coldest March in 50 years kept
shoppers at home, official figures showed today, making the prospect of a
triple dip recession a near certainty.

In a continuation of the
rollercoaster performance seen this year, with sales rebounding 2.1 per
cent in February after a snow-hit January, the Office for National
Statistics said sales were 0.7 per cent lower last month. Sales in March
were also down 0.5 per cent on the previous year. Read more here.

12:00

The
FTSE 100 Index was up 30.1 points at 6274.4, having come under pressure
this week on concerns about slowing Chinese growth and mixed results
from US companies at the start of the first quarter earnings season.

The
moderate improvement came despite another poor session for mining
stocks, with Antofagasta down 44.5p at 861.5p and Randgold Resources off
59p to 4507p.

Pharmaceuticals
group GlaxoSmithKline was the biggest top flight riser, up 4 per cent
or 70.75p to 1677.5p, after US regulators gave their backing to Breo,
its experimental lung disease treatment.

Engineering
group GKN, which makes driveshafts for almost half of all new cars, was
close behind after chief executive Nigel Stein said he expected an
improvement in results now that restructuring charges are out the way.

First
quarter figures showed sales rose 9 per cent to £1.89 billion, while
profits were 1 per cent lower at £139 million as a result of a £23
million one-off charge. Shares responded with a rise of 8.3p to 254p.

Meanwhile,
shares in housebuilder Persimmon were 6p higher at 1112p after it
reported a pick up in visitor levels to its developments.

The
builder also sped up plans to hand cash to shareholders, part of a £1.9
billion 10-year dividend plan. It will give investors an extra 10p per
share next year instead of in 2015 - an extra £30 million - after an
expectation-beating 2012.

10:15

The FTSE is up 0.27 per cent or 16.63
points at 6,260.9. Retailers suffered a bigger-than-expected fall in
sales last month after the second-coldest March on record left them
unable to shift stock.

In
a continuation of the rollercoaster performance seen this year, with
sales rebounding 2.1 per cent in February after a snow-hit January, the
Office for National Statistics (ONS) said sales were 0.7 per cent lower
last month.

Clothing and footwear volumes were down 3.1% on a month earlier as the weather thwarted retailers' spring sales.

09:00

Department store chain Debenhams was
one of the top performers today in a session when global growth fears
continued to peg back London shares.

The FTSE 100 Index was up just 6.1
points at 6250.5, having come under pressure this week on concerns about
slowing Chinese growth and mixed results from US companies at the start
of the first quarter earnings season.

This
was reflected in another poor session for mining stocks, with
Antofagasta down 20.75p at 885.25p and Randgold Resources off 87p to
4479p.

GlaxoSmithKline was the biggest top flight riser, up 3 per cent or 50p to 1657p, after US regulators gave their backing to Breo, its experimental lung disease treatment.

Debenhams was in the spotlight after it said profits dropped to £120.3 million for the six months to March 2, in line with last month's warning about sales following a snow-hit start to the year.

Investors were encouraged by comments from chief executive Michael Sharp, who backed the group's spring and summer ranges and reported market-beating online sales, which surged by 46 per cent in the first half.

With Investec Securities placing a buy rating on the stock in the wake of the results, shares lifted 8 per cent or 6.1p to 86.6p.

Meanwhile, shares in housebuilder Persimmon were 17p higher at 1123p after it reported a pick up in visitor levels to its developments.